May 26, 2009

China had overtaken the US for the first time in the term of luxury goods consumption by the end of January 2009, according to a report by the World Luxury Association, however, the speed of growth in luxury goods sales in Beijing, Shanghai and Shenzhen markets started to slow down for the first quarter of 2009 under the stress of the recession. As China's property prices have dropped since last year, luxury brands in Europe and America are seeking to invest in Shanghai’s commercial real estate in a move to add some new profitable pipelines.

Comments

Does the US fund luxury brands?
Does the US run or is somehow in charge of luxury brands such as Louis Vuitton, Gucci, and Fendi? I'm trying to make a point in a presentation that America basically runs the world, since they are basically in charge of the global economy and political issues. But what about luxury brands? I know they're European but who funds them? Is this one thing the US doesn't have a hold of? (doubt it) I know very little about the fashion industry; please enlighten me.
I appreciate it very much.

China is slowly rising. More and more businesses are engaging within the China. In fact, there are some interesting facts/signs that China will grow into a juggernaut market. China has more skyscrapers than the US as well as the number of Starbucks. =)

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